Southridge Enterprises Inc (SRGE)

[Yoraces]

I am sure scum MSJ will help all involved in mexico. cough cough. riggghhhht!!
LMAO

BGL has officially terminated their litigation against MSJ - SRGE!!! big smile

In their latest yearly audited annual report on April 4th 2017 which can be read on SEDAR. In a previous post I wrote that BGL sent a press release terminating their litigation but they wrote this press release AFTER they filed their audited 2016 annual report, delaying the official write off for another year. The termination was not included in the 2016 annual audited report. Subsequent quarterly financial reports in 2016 are not audited until the annual report of 2017. Now the termination and the write off is official (after 9 years of legal pursuit of the Cinco Minas/Gran Cabrera mines, nearly a decade) as their auditor signed off on the latest annual report on April 4th 2017. In total the BGL litigation was 8 years and the official litigation termination in the audited report was another 1 year. April 4th 2017 officially marks the end of BGL's legal involvement with MSJ, making the Cinco Minas/Gran Cabrera mines legally open for sale to a senior gold mining company. For 9 years with an interval period in which the mines belonged to SRGE, MSJ's hands were tied regarding Cinco Minas/Gran Cabrera as BGL continued to write in their audited reports "As at (fill in date) the company is still in process of protecting its interest in the Cinco Minas and Gran Cabrera mining properties in the Mexican courts". Now it's time for MSJ to leave the past behind and move forward and sell those mines, boost the mining economy in Mexico and provide hundreds of jobs for the people living at the Cinco Minas/Gran Cabrera area. wink
Post courtesy of nightfly..

On April 13, 2016, the Company terminated the litigation on its Cinco Minas and Gran Cabrera mining properties due to the potential costs of continuing court cases combined with the general poor financial conditions in the mining sector affecting the market value of the properties. As a result, the Company recorded an impairment of $4,634,659 on the Cinco Minas and Gran Cabrera properties.

http://www.sedar.com/FindCompanyDocuments.do

http://www.sedar.com/GetFile.do?lang=EN&docClass=13&issuerNo=00007551&issuerType=03&projectNo=02608730&docId=4087518